In economic theory, imperfect competition is the competitive situation in any market where the conditions necessary for perfect competition are not satisfied. It is a market structure that does not meet the conditions of perfect competition

Which of the following is a type of imperfect competition where there is only one buyer of a good?

OligopolyMonopsonyMonopolisticMonopoly

That was the correct answer, well done!Sorry, that was the wrong answer

A monopsony is a market form in which only one buyer faces many sellers